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new delhi, india and four-nation european bloc efta will sign a free trade agreement on sunday, which is likely to help promote investments and exports of key domestic services sectors such as it, audio-visua
India signed a significant trade agreement with the European Free Trade Association (EFTA) comprising Switzerland, Norway, Liechtenstein, and Iceland, committing to a $100 billion investment over 15 years. The Trade and Economic Partnership Agreement (TEPA) aims to increase foreign direct investment (FDI) in India and generate one million direct jobs. The deal, India's first FTA with developed nations, focuses on innovation and collaboration, with investments expected to flow steadily, potentially exceeding estimates.
With the EFTA being the first set of European countries to sign a deal with the investment commitment, the pact could serve as a template when dealing with developed nations who will have greater market access in a high tariff country like India and have investments to offer.
The EU is seeking greater market access in India but raising its own trade barriers through digital rules that it considers a matter of its sovereignty. India-EU ties could become a casualty of this.
Under the EU’s carbon control regime that kicks off in 2026, emissions should be reduced 2.5% in the first year and reduced every year after that, and eliminated by 2034